FSBO: What is it all about? Can it work for you?
FSBO (Pronounced "Fizz-bos") is a commonly used acronym that stands for For Sale By Owner and often refers to real estate for sale.
An alternative to selling your home with a real esate agent, FSBO is where the owner handles the sales process themselves without the assistance of a real esate agent.
The primary objective for FSBO is to achieve a maximum property sale price and to save on agency commissions and or brokerage fees.
If selling by FSBO, it is imperative you have a rough indication of local property prices. A good way this can be achieved is by browsing popular real estate websites such as www.realestate.com.au and www.domain.com.au, and by surveying recent property sales in the area from real estate information providers such as www.rpdata.com.
Perhaps the biggest dilemma with FSBO is a property owner's ability (or rather inability in some cases) to be practical and un-emotive about their home and to maintain a clear perspective throughout the process. Afterall, with FSBO you are the sales agent, not the home owner and not everyone will have the same fond feelings of your personal decorating tastes.
Other considerations should be extended to how time-intrusive this process can become.
Open houses, multiple phone calls and, most importantly, relentless negotiation on the place you once called home.
Although extremely popular in the United States, according to popular real estate property site Zillo, studies have shown that a real estate agent achieves a better property sale price than FSBO.
In addition to this, many home buyers actually engage realestate agents to search and or recommend properties that are either on or about to be listed in the market, and then there are marketing and advertising expenses.
This withstanding, and perhaps as a result of a tightening economy, there are a number of property sites that are growing in popularity that support FSBO including:
www.goldcoastprivatesales.com.au
Regardless of who is selling your property, there is alot of work involved. Some may find the financial rewards using an agent, or in the case of FSBO... the savings may well be worth the effort.
| Share this post: | |||||||||||||||||||||||||
|
|||||||||||||||||||||||||
